ARB has risen to $0.112 in the past 24 hours, with a single-day increase of 30%. This upward trend is related to the increased activity of Robinhood Chain, which is supported by Arbitrum technology. The rise in on-chain transaction fees has also led the market to re-evaluate the ecological value of ARB.

Robinhood Chain Fees Exceed One Million US Dollars

The handling fees generated recently have exceeded one million US dollars. Since this chain adopts Arbitrum technology, the growth of related businesses is considered a direct benefit to the Arbitrum ecosystem.

According to the current revenue sharing model, 10% of the net income of Robinhood Chain will flow into the Arbitrum ecosystem. This means that as the usage on the chain increases, the revenue support received by Arbitrum will also expand accordingly.

Short covering magnifies short-term gains

In addition to fundamental factors, the covering of short positions in the derivatives market also amplified the increase in ARB. Data shows that the number of open contracts for ARB has risen to 88.1 million US dollars, indicating a clear increase in short-term trading funds.

During the phase of rapid price increases, short sellers closing their positions often further drive up the coin price, which is also one of the reasons why this round of rebound has been relatively fast.

Resistance around $0.12

However, the ARB short term still faces resistance around $0.12. If the buying momentum is not sustained, the price may slow down at this level.

In addition, the token unlocking on September 23 is also a point of concern for the market. The increased supply in circulation may put certain downward pressure on prices and become a variable in the subsequent trend.